§ 4A–206
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 4A-206 (2026)
Title 4A. Funds Transfers
Subtitle 2. Issue and Acceptance of Payment Order
§ 4A–206LinkCopy Citation
(a)
(1)
If a payment order addressed to a receiving bank is transmitted to a funds-transfer system for transmittal to the bank, the funds-transfer system is deemed to be an agent of the sender for the purpose of transmitting the payment order to the bank.
(2)
If there is a discrepancy between the terms of the payment order transmitted to the funds-transfer system and the terms of the payment order transmitted by the funds-transfer system to the bank, the terms of the payment order of the sender are those transmitted by the funds-transfer system.
(3)
This section does not apply to a funds-transfer system of the Federal Reserve Banks.
(b)
This section applies to cancellations and amendments of payment orders to the same extent that it applies to payment orders.